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tuesday afternoon. dow off 100 a few minutes ago. recovered from the lows not by much. what we need is con -- is perspective i turn to the man, mr. neil cavuto. >> neil: from ticked off to off the hook with one week to go. good luck getting through to your congressmen. phonelines jamming up. which side is getting that wakeup call? welcome, i'm neil cavuto. talk about your hang ups. phone lines at the capital today overloading as americans try to reach their lawmakers after the president urged people to phone in. due to the high volume of calls house telephone circuits are near capacity resulting in outside callers occasionally getting busy signals.
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we try it all day. with seven days to go and two plans in the works, what are those callers saying? to our congressional correspondent mike emanuel. a lot of folks trying to get through, what is happening? >> reporter: i talked to some officials about the volume of calls. they say on a typical call congress gets 20,000 or so. right now they are on target for 35,000. they say at the peak of the health care debate they were averaging 50,000 plus a day. i stopped by senator alexander's office and the young lady there was polite and they were doing their best to multi-task. senator alexander told me a lot of calls were supporting him and saying they were opposed to president obama's plan. the phones continue to ring. the e-mails continue to come in. speaker boehner's office, they
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said they've had more calls over the past week or so. not a significant increase, since the president suggested that the american people weigh in on this debate. as we look at the debate, there are two rival plans on capital i had. harry reid selling his plan in the senate and -- and house speaker boehner selling his plan in the house. different plans. but the bottom line is, senator reid came out and the speaker's plan. >> speaker boehner's plan is not a compromise. it was written for the tea party, not the american people. democrats will not vote for it. democrats will not vote for it. democrats will not vote for it. it is dead on arrival in the senate. >> reporter: did you get that neil, democrats will not vote for it, according to harry reid. we've had a veto threat from the white house. the bottom line is, the clock is ticking s that august 2nd, deadline.
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if the -- boehner plan emerges as the only plan it will be interesting to see how the white house and folks in the senate react. >> neil: the reid plan isn't popular in the house. boehner plan isn't popular in the senate. where do we stand on this? >> reporter: well, i've talked to some folks here who say the reid plan may not have 60 votes to get out of the senate. he's allowing speaker boehner to go first. boehner's people and the leadership in the house are trying to rally to make sure they've got 218 votes. it is not clear they would have enough in terms of republicans. they are trying to peel off democrats. they are scrambling to see if they have the votes. the boehner plan will come up for a vote sometime tomorrow. we'll see if it goes on to the senate whether it picks up some support there. >> neil: mike emanuel, in the nation's capital. >> down but not down and out. some calling it more of a
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distraction one that builds up a head did steam of losses today. -- the story of the day was gold advancing another record today. $1616.60 an ounce. >> my next guest is not a fan of the boehner or reid plan. kentucky republican senator rand paul joining us. it is being said now neither plan suits your fancy. do you have a lesser of evils? >> thing is that, both plans will add somewhere between 7 to 8 trillion over 10 years. the real disservice to the american people is they need to be honest about their accounting up here. none of these cut spending, none of these cut the deficit. both plans will add seven to eight trillion dollars.
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i don't think our country can withstand that kind of addition of new debt. >> neil: a lot of cuts in boehner's plan critics have said, the front cuts are more like 70 to 80 billion dollars not the more than one trillion trumpeted in this more 10 year plan. that the upfront-cuts are meager, do you agree? >> yeah. we have reports that say the upfront-cuts are six or seven billion. remember how we had this debate in the spring. we started out with 100 billion. prorated to 60 billion. compromised to 38 billion. and we added it cbo it was 300 million that's what is going to happen with this plan. the other thing is the trillion is over 10 years against a baseline that increases spending by 45 trillion. it really is only reducing the proposed increases. it never cuts spending. never cuts debt. its will pile on seven to
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eight trillion over 10 years. it is not even close to the answer. the answer would be a balanced budget amendment. short of that, i can't support a raise in the debt ceiling. >> neil: there are many who share your views, senator. we are going to blow past this deadline. >> that's why i think the president ought to step up and be a leader. he should take default often table. at any point in time over the last six months the president could have said, i will not default on the interest. i will pay it. we bring in 200 billion dollars a month. the interest payments are about 20 billion. there's no excuse for not paying the interest. there's no excuse for scaring seniors as the president has been doing. he should take social security checks off the table. he should also take the salaries of our soldiers, off the table. we met this morning, leaders in the house and senate, conservative leaders, and we introduced legislation that will force the president to pay the interest, pay the social security checks and the soldiers' salaries.
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>> neil: in other words prioritize [ unintelligible ] just to keep the lies on maybe the utilities and you can play with some of the other stuff. the president has indicated so far that's not in the cards. we are hearing reports that privately white house officials are talking to wall street types. more to the point, even the rating as agencies that defaults off the take. publicly saying a different thing. what do you make of that? >> publicly,hçzqrj playing games with the american people and scaring seniors and the bond markets. privately he's reassuring the bond markets he will pay the interest on the debt debt. doesn't sit well with the american people. the american people want a leader who would lead the country. the only way to lead the country and taken solutions to these real problems that exist -- and find solutions to these real problems that exist would be honest, pay the social
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security checks, pay the solution. >> neil: you thinkl4, will? -- >> so far it didn't look like he is going to be that kind of leader. he should take default off the table and reassure everybody. i don't think he's going to. we need to have honest debate how we fix entitlements, how we fix this enormous debt crisis looming in the near future. >> neil: senator rand paul, thank you. >> meanwhile, this debt fight got us thinking of this: >> neil: is just a game of chicken. which side is going to come out on top in a legislative game of chicken? governor kasich knows a thing
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or two about this process. what do you think governor? each side an fried to back down. -- each side afraid to back down, what are yourqrp thoughts? >> well, neil, where there's a will there's a way. right now it appears there isn't enough will. i was one of the negotiators in the architect of the '97 agreement. we went through a lot of tough stuff. at the end of the day the will was there to balance the budget. neil, at the end of the day, people just can't shove something down somebody else's throat. look the republicans control the house. the democrats control the senate and the white house. so there's going to have to be some give. i don't know what people are thinking when they think we should default this would be very, very bad for american families. you look at your 401(k) would go down this is serious stuff.
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>> neil: how likely is a default? >> i think it probably will not default, neil. but i'm not sure. here's one of the things, i thought coming on the show today what would i say? i'm not in the room neil. when you are not in the room, you can pontificate and speculate. when you are not there you don't know. here's what i think you could push. i think you could push the spending cuts, including entitlement reform, up front. then i think you can in fact, close loopholes and lower the rates. and you do that over time. so you are guaranteed the spending cuts. what i worry about is you tell a congressional committee they are going to come up with these savings. i don't think they come up with them, unless you know what the specifics are. when i was budget committee chairman, i developed a program to come up with those savings. if the committee wouldn't do it, i would do it. i was their worse fear that i would do their job for them. one of the things i worry about is getting these savings
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up front that is what is scaring the bond markets. that is what is creating a lack of confidence around the world. can america deal wits spending problem? we should not takeoff the table the ability to lower corporate rates and personal rates and close loopholes. that ought to come later. the spending, savings should come now i think that is inherently reasonable. i think probably, obama and boehner were close to it. somehow, i wasn't there, but somehow, i think something got in the way to me that's a formula that can work. and look, we are so many trillions in the hole. i watched you a little bit over the weekend. you can't let this thing keep lingering. it is my 11-year-old's, your family, people will pay a price for this high debt. we must stop it. but everybody is going to have to give. pontification, is just not going to get us there. people need to be responsible for the future of this country. we did it. i did it out here in ohio.
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we wiped out -- -- listen, wait, one other thing, we wiped out an eight billion dollar budget deficit in ohio. we reduced taxes. we reformed programs. and our credit rating improved. we went from negative watch to stable. in other words, when everybody is going the other way we are improving. stare the problem in the eye. cone compromise your principles but put the -- don't compromise your principles, but put the country first. >> neil: some tea party members gathering outside boehner's office yesterday. take a listen to this >> if we don't raise the debt limit we are going to default is that true? >> no! >> we are in support. we were, i think upset with the outcome of the continuing resolution negotiations. on this, he's doing a great
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job, we want to tell him keep doing what you are doing. kneel they'll there's a conservative bloc building today as you might have heard opposed to what speaker boehner is doing they say he's co+aíingps way do you -- they sy he's caving. what do you say? >> nobody should be criticizing john boehner's conservative credentials. he's a small businessman and he understands what needs to be done. secondly, i respect the tea party. the reason is, they are worried about this huge debt. and i'm glad there are some saying boehner is doing a good job. frankly, i think he's doing as well as he can. i think at the end of the day, in 1997 when we go our deal done the far right didn't like it. and the far left certainly didn't like it. you get those folks i don't mean in the middle moderate. those people willing to deal with this problem. could you imagine the
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united states of america announcing that we can pay our bills? and people think that's okay! that doesn't mean you don't get up to the 11 hour and deal which. but, at the end of the day, maybe a short term debt limit. let the president veto it just keep sending it back to him. we can default, you know it, i know it and in the deep hearts of americans on main street, they know it. >> neil: governor good seeing you. >> that is why we are live from washington tarting this friday through the weekend. we have -- starting this friday through the weekend. saturday part two taking it to the limit, we are there, you be there. didn't like high school. and then i met my teacher, mr. mccooey, and that click happened. i would never have even thought about going into the engineering field if it wasn't for these ap classes, these teachers
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>> neil: the president s these regularly scheduled programs to bring you, something you already knew. there is still no debt deal. >> the president: near party
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is blameless for the decisions that lead to this problem. both parties have a responsibility to solve it. >> neil: sound familiar? any different from this? >> the president: neither party is blameless for the decisions that lead to our debt. but both parties have a responsibility to come together and solve the problem. we have now run out of time. >> neil: it used to be a major [ unintelligible ] political guru says not any more. larry the president's remarks last night were almost verbatim what he wrote in a u.s.a. today column a couple days earlier. i'm saying, we interrupted bachelorette for this. >> there wasn't a lot of news. i'm not sure there is a lot of news in bachelorette ear, i never watched. >> neil: really! >> i only watch news channels neil, i'm sorry, i'm boring
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that way but look -- >> neil: bachelorette is going through a major problem, but i digress. the networks felt obligated to take boehner's response, all good. when the it is the same on both sides again and again is that even necessary? is that wise? does it risk overkill? >> i think presidents need to use their opportunities carefully. you can over do it with the networks. they've been known to deny even presidents the opportunity at primetime. they pay a lot forever those bachelorette programs. you never want use it unless you have to. i'm not sure we learned anything last night on either side that was new or different and we are still in deadlock today. >> neil: you are right. i think we'll rifle through some of the times a primetime address has been rejected for this president a couple years ago. president bush a couple of times.
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that's more the exception than the rule when a president is declined. is it because we always defer to the commander in chief? is there a risk that he overtalks? ronald reagan gave a lot of addresses, more than barack obama in his presidency. was the difference that he said more unusual or different things, what? >> it depends on what you're saying. and whether you have something to add to an ongoing crisis. if you are calling national address to discuss the weather, obviously, that's not going to go over. if you are talking about a crisis that's important. but you have to have something to add. it shouldn't just be a re-statement of press availabilities you have already had. that's what we saw last night. >> neil: by the way the bachelorette called and she is furious at you. larry, thank you. >> speaker boehner says his plan could pass. why is this republican
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confident it will not? >> [ unintelligible ]
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>> neil: forget the partisan politics. is the reason real we have this mess because of the bipartisan spending trying to fix things the government cannot. housing rescue, tens of millions more in waste and fraud just revealed. realtor says this is the kind of stuff that makes the bad housing situation worse. maybe contributed to the 1% dip in new home sales we just reported last month. we mean well, done we? we always mean well. >> i think so, i'm not sure. >> neil: what happened? >> it is unbelievable. again, it might be worthwhile
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if we had stable prices. we had stable demand. if something had gone right with housing. but nothing has gone right. with all of these 30 billion dollars of housing tax credits, not including possibly the fraud. it is amazing. >> neil: when you take the credit away. o', the buyers go away. >> so we are borrowing for future we did nothing. whoever would have bought maybe next april, bought in april or which ever year we're referring to. we merely borrowed from the future. demand dropped. prices continued to drop. absolutely nothing was accomplished by the home buyer tax credit as far as i'm concerned. >> neil: do you think people have a past loafian response to like -- a pavlovian response? >> i'm not sure. maybe they will buy a home. maybe they were going to buy any way. i think we have to leave it
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alone. let it find its bottom, do its natural course. then i'm sure everything will at some point come back if we keep messing with it, everybody is going to wait for something and nobody is going to buy or just buy when we give something. >> neil: what happens in the interim? lately month over trends are better not great, but better. do you make anything on that? >> not really. it depends on the product group in that month. it depends on so many things there are a lot of high end sales that could pull up a few. luxury sales are doing okay. i wouldn't say well. >> neil: what constitutes luxury sales? >> luxury sales are you know millions. many millions. luxury sales are still well in terms of pricing. however they are doing terribly in terms of volume. whoever wants to buy something the seller is not giving up, they are waiting. either you are going to pay
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their price or they are not going to sell to you that uploads the pricing such that all the averages go up a little. that's where we are. what we are seeing. >> neil: how long do you see this going on? >> as a countrywide thing three to five years. even if we look at inventory numbers people are saying only 9.1 months, which is terrible. none of that includes all the developer inventory they haven't put on the market i counted up new york city, even a good place like new york city, buildings where developer puts five or six apartments on the market when they have 400 to sell. you imagine, where the numbers would be. then everybody would say i'm really go to hold off and not buy anything now. >> neil: are buyers affected by in debt mess? >> without a question. it is about confidence. real estate purchases generally the largest purchase anyone makes really a confidence play. confidence in the government. confidence in the future of the country.
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it is confidence in everything, employment, every aspect of the economy. if you don't have confidence why are you buying into something? you are going to way again to falling next story. >> neil: you were saying in affects the very marginal all the way to the very mega wealthy, right? >> no question many everybody is saying what am i rushing for? unless they have a need. sometime you have a need, relocating there isn't something suitable to rent, you are going to buy or trading up, you just had twins, there are reasons to buy and your ememployment is secure and you are -- financially okay. except for those people most are on the sidelines. rental inventory almost no rental inventory or the market. people are renting. people are looking to rent for the next two to three years. then they will look into what they are going to do. >> neil: weird stuff. thank you very much. >> selective outrage.
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[ unintelligible ] his white house is slamming him for a different reason right now. etwork. a living, breathing intelligence that's helpi drive the future of business. in here, inventory can be taught to learn. ♪ machines have a voice. ♪ medical history follows you. it's the at&t network -- a network of possibilities... committed to delivering the most advced mobile broadband experience to help move business... forward. ♪
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get the protection you need right now! ♪ ♪ ♪ the charcoal went out already? [ sighs ] forget it. [ male announcer ] there's more barbeque time in every bag of kingsford charcoal. kingsford. slow down and grill. >> neil: with a downgrade threat looming the obama administration is fueling and the pot is about to -- is stewing and the pot is about to boil over. behind the scenes [ unintelligible ] just a few years ago the president had no problem telling the agencies to
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toughen up after they missed the financial meltdown. remember this? >> the president: we must investigate ratings agencies that supposed to help investors determine the soundness of investments stamp securities with their safest rating when they should have been labeled buyer beware. we cannot let the public trust be lost between the ratings agencies and the people they are rating. >> neil: dan says the president can't have it both ways. i remember those remarks vividly. it seemed at the time they were justify. if you miss the mark, you better damn well not miss it again. very different. >> the president was exactly right, a couple years ago. because the rating agencies did a crumby job. they didn't catch fannie mae and freddie mac, they missed the boat on greece and portugal and other european welfare states. the president is like someone who says we should all lose
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weight but you first i'm going to wait a little while many he doesn't want the same discipline imposed on the federal government. and yet his policies are leading us to a down grid, regardless of what happens on this debt -- downgrade, regardless of what happens on this debt limit fight. >> neil: you think even if they were to settle this i downgrade would still be in the offing? >> i would be stunned if one year from now we still have a aaa rating. whatever they do they are going to kick the can down the road with some phony package. we know our long run financials are terrible. we have the same fiscal structure as greece. but maybe five, 10, 15 years behind them, because their population is a little older and their welfare state got bigger faster. unless we do something dramatic -- >> neil: we can print more money. >> we have our own concern . i can't imagine the credit rating agencies would like fit we start doing qe 4, 7, 9,
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then we might as be argentina. >> neil: you are refering to quantitative easing. i've all wondered dan how we still have a aaa rating. we've been pulling this charade for years. i'm surprised we haven't seen it downgraded yet. >> especially when you look at our long term debt. global markets, europe not in good shape, japan stagnant. people are worried about a bubble in china. if you are an investor, where do you put your money? sure three month, six month, u.s. treasury bill is a safe place to put your money and you get a little interest. why on earth would anybody want a 20 year u.s. government bond? after another maybe four years of obama and then of course whoever comes after that, we are going to become greece. >> neil: was dan if we don't have a deal a week from now? i'm not confident. i don't think they are going to --
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[ unintelligible ] it won't be in time for august 2nd, i would be wrong. i don't think that means default. i think it means we continue making our debt payments, paying our note holders and the like. leaving aside the possibility for a downgrade after that how long could we sustain ourselves lingering on without our national viva -- visa credit rates? >> into theory we could go on forever. would it just mean we would have to reduce the size of government by 40% overnight. we would still collect 10 times as much revenue as we need but we wouldn't be able to pay everything else. treasury secretary geithner and president obama and a few others in the administration would have to decide. do we pay the defense contractors for building tanks? do we send out social security checks? do we give hospitals their medicare reimbursements? do we send more s to state and local governments? yes it would be -- disruptive.
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any politician who says that we will default if we don't increase the debt limit they either have no clue what they are talking about or lying through their teeth. i usually think it is the latter. >> neil: dan, you are the best. always good to have you. >> are you getting sick of this debt game? dave ramsey you better make sure everyone has skin in the game. >> speaker boehner says he has the votes. a congressman says hate to break it to you speaker, you don't.
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>> neil: today former republican presidential candidate arkansas governor, to ditch the internal revenue service. with preliminary data showing irs 42% of americans not paying income tax for 2009 would we be playing a debt game of chicken if everyone's
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skin was in the game? dave ramsey is a fan of this sales tax. joining me right now. you've advocated this for a long time dave. it is like9,[;í waiting and wai. >> there's got to be a political climate for something this radical to be able to go through. of course my friend another talk show host has been a big proponent of the national sales tax idea. another buddy of mine has picked up that banner and has run to washington with it, which is good. the thing i'm a fan of is everyone having skin in the game. fan of fair tax, flatf[ tax. this idea that 42% of americans don't pay anything into the problems that president obama and the congress are grappling with now that is morally wrong. >> neil: 51% are eligible
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taxpaying families pay no income tax at all. having said that, my only fear is rather than a swap out they are an add on. >> that can be the problem that's happened in a lot of states. at the state level. they say we are going to do away with the sales tax and bring in an income tax. they tried to do that in tennessee where i lived and we pretty much stomped them into power and ran the politicians out on a rail that tried to do that. we would under with both rather than either or. on a federal level, as massive a move as that would be, it would have to be a complete shutdown of things as we nope it changes your personal residence, capital gains they go away. it changes your 401(k)'s and roth ira's you don't need them. there's no income tax on your gains so you can make money
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and keep it. naturally encourages savings. that's one of the things i love about it. it is more of a voluntary tax. eye got a voluntary sales tax in tennessee almost 10% now. we get ready to buy something, we decide if we want to buy that or not if we don't, we don't pay the tax. >> neil: if things are slow in the economy, you don't buy as much the state doesn't get as much revenue. >> that is happening. so states have to land that way as well. i've noticed when the economy slows the income tax doesn't generate as much either. so the feds are facing that as well. >> neil: good point. thank you, good seeing you again. >> good to see you. >> neil: the race is on. >> stay on or get off? >> off! >> neil: like driving with my wife. only this time it is not a
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runaway bus. it is congress trying to avoid default. remember the guy trying to defuse that bomb? well it is me. this friday all the explosive developments it kicks off 4 p.m. eastern time. it continues on fox business network. if you don't get it. [ demand it ] >> neil: last minute coverage of this debt fight 48 hours before everything as we know it could extend or end tune in starting at 10 a.m. eastern time, you won't want to miss it. >> the president meeting at this hour, the white house looking at veterans on this debt fight. top republican here to say don't worry checks will still go to vets and seniors, no matter what are hearing. [ jon ] we don't just come up here for the view up in alaska.
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>> neil: first it a warning to seniors. now the president meeting with veterans. [ inaudible ] sir, good to have you. the president raises the default possibility with social security recipients by extension potentially veterans. that's not the case? >> not at all. let's be clear. there's plenty of money in the month of august to take care of the bond holders. to make sure social security recipients get their checks and make sure our troops get paid. there's plenty to do that. this bill is a great piece of legislation it spells that out clearly. after that the president will have to make some choices. you have to lead, make decisions about what gets paid in what order. there's plenty of money to take care of those three things.
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>> neil: that's his call once we are in that potential environment? >> right. we think he can do this now. he can, instead of scaring seniors and veterans and our troops he can say there's money enough to make sure we pay the bond holders so there is no default. money to pay social security checks and pay our troops. he could be reassuring the nation instead of scaring the nation. yet he has chosen the scare tactic route. we said let's put legislation to draw attention to this issue that there are sufficient dollars to take care of troops and social security and our bond holders get paid. >> neil: there are indications that some of our more conservative colleagues are against speaker boehner's plan, chamber of commerce today in support of that plan. a number of so-called blue dog democrats antsy about the boehner plan. as things stand now, does the
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speaker or senator harry reid have a tougher time selling their respective plan? >> look, i appreciate what the speaker has had to deal with, dealing with senator reid and president obama, the fact that he has kept increases out of the proposal put forward by republicans, i appreciate that we are not going for tax increases. i appreciate the speaker's work. we are troubled by this commission and the authority and power it may have. wey that should be -- congress is here to make these decisions to fix our fiscal situation. and we are troubled that there aren't real cuts in the first year. just seven billion in reduction in discretionary spending. what we are mostly concerned about is, we think this is the moment where we should get a balanced budget amendment sent, change the way we do things where everybody has to abide
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by, that's our concern. that's what we continue we hope we can get. >> neil: you are closer to this than i will ever be. my view is that a deal isn't going to be reached in time. then we go into the sort of the twilight zone, where the president is deciding what bills are going to get a. presumably, if you have your way, jet republicans, -- social security, soldiers and the like. -- how long do you think that could go on? how risk as the days and weeks go by in that environment does a default get? >> who knows. we all want to get something passed. there's only one bill put in bill for -- bill form debated passed in one house that had bipartisan support that will prevent a downgrade that fix the problem and the american people will support that's the bill that harry reid wouldn't bring up for a vote.
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i would argue that's the plan. it has already passed one house in congress let's focus on that plan. >> neil: your cap cast rejected. now we are back to two plans. you hate your speaker's plan. i'm sure you are not a friend of harry reid's we are back to the starring blocks. >> harry reid can bring the cut, cap and balance off the table any time he wants. -- bring it off the table and pass it. it is the one thing that fixes the problem. >> neil: i thought i was five votes short. >> it was tabled. have a real debate let the american people engage and watch that debate then we have a chance to pass that legislation and get the balanced budget which will fix the country. look, washington wants a deal. america wants a solution. the cut, cap and balance plan is a solution. >> neil: if he doesn't do that will it hang on him, the president or all you guys?
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>> who knows how this plays you. what i do know is we hud do what we know is going to solve the problem. the plan we put forward last week, 229 republican votes. five democrats votes, bipartisan support says this plan fixes the problem. >> neil: very good seeing you again. i know you had a long week congressman jordan, thank you. >> the low down of the meltdown that could risk never mustering the courage up. [ male announcer ] to the 5:00 a.m. scholar.
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the two trains and a bus rider. the "i'll sleep when it's done" academic. for 80 years, we've been inspired by you. and we've been honored to walk with you to help you get where you want to be ♪ because your moment is now. let nothing stand in your way. learn more at keller.edu. >> get a deal or the markets will go nuts. how many times have you heard that in the debt negotiations if the guys don't cobble together om deal in washington they're going to trigger a meltdown on wall street. if it's a bad deal. that's threatening to raise the limit or we're going to lose it.
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i've heard spending cuts aren't a big deal, raise that debt ceiling so they don't hit the roof. and all of those notes and bonds that a lot of you hold and thinking to myself. we're afraid of these guys having a hissy fit? is that a way to conduct policy, gauging market reaction to it. don't get me wrong, i love this capital stm and remember, back in the fall of 2008. wall street melted down nearly melted down after congress initially rejected then president bush's first tarp request? you knnknow why they did that? it was a bailout for bankers and brokers, lets hat not read too much in the selective tantrums and to rescue who these guys think are fairs, namely their interests and not
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necessarily the country's interest. that's not to stay that wall street isn't and shouldn't be worried about our long-term future, it should. let's just say it spends a lot more time focused on its short-term future. there is a difference and we'd be wise to remember it and wall street, you would be wise to appreciate it because this isn't about momentarily protecting your assets and their price. this is about protecting something far more priceless, the country. so, i say better no deal than a bad deal or a sloppy deal because you can't put an arbitrary deadline on fixing a decades long mess and you shouldn't pressure our leaders to settle just so that you can trade because if memory serves me right, after we reward the hissy fit we don't necessarily overcome future fits. remember, after scrambling to do the street's bidding into the huge 800 point selloff in 2008. does anyone remember where we were in march of 2009?
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4,000 points lower. so much for calming cry babies. they still cry. again, i must stress. this is not to dismiss the markets, but we should not be pavolvianly responding to the markets. they're looking at the near term good. we should be looking at what is long-term wise. just me, don't mean to tick people off, but a reminder. meanwhile, no tears, no fear, the fox business network, we separate the facts from the scare tactics and this friday we're going to capitol hill as the debt is closer and closer, on 4 p.m. and 6 p.m. on fox business network and back at it this weekend in our nation's capital for the budget brawl. some of the biggest names, biggest players, in fact, a couple of surprise stunning guests, just today, that if i shared with you, i mightav

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Your World With Neil Cavuto
FOX News July 26, 2011 1:00pm-2:00pm PDT

News/Business. Money tips from Wall Street. New. (CC)

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